TORONTO, ON / ACCESSWIRE / August 16, 2023 / Gratomic Inc. ("Gratomic", "GRAT," or the "Company") (TSXV:GRAT)(OTCQX:CBULF)(FSE:CB82) is pleased to announce the issuing of a National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI43-101") technical report dated August 14, 2023 with an effective date of July 10, 2023, with mineral resource effective date of July 15, 2023, and entitled "NI 43-101 Technical Report And Mineral Resource Estimate on The Capim Grosso Graphite Project, Brazil" (the "Technical Report") in respect of its 100% owned Capim Grosso graphite project located in the Bahia State of Brazil, with the Company holding a 100% controlling interest in the property (the "Capim Grosso Project"). The Technical Report was authored by Nico Scholtz, Pr. Sci. Nat. ("QP"). The Technical Report provides a summary of work carried out on the Capim Grosso Project between 2021 and 2023, an Inferred Mineral Resource Estimate (MRE), and recommends a follow up exploration program for the property. A copy of the Technical Report is available on the Company's SEDAR issuer profile at www.sedar.com.
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The Capim Grosso graphite project is located within the São Francisco Craton (SFC). The SFC is a tectonic domain surrounded by Neoproterozoic orogens. Its southern sector is composed by Archean crust, with age between 3.5 and 2.6 Ga, that is formed mostly by granite-gneisses and greenstone belts constituted by mafic-ultramafic, intermediate-felsic volcanic and volcanoclastic rocks with terrigenous sediments.
The exploration work completed by Gratomic to date included the excavation of exploration trenches over delineated target areas. Graphite mineralisation intersected in these trenches have been followed up with exploration diamond drilling. The results of the trenching and drilling to date allowed for the calculation of the following NI43-101 Inferred Mineral Resource Estimate (2 % TGC grade cut off). Note that the grades are weighted averages. Mineralisation is open at depth and along strike (rounded):
Mineralization (t) | TGC Grade (%) | Graphite (t) | |
Total | 7,965,211 | 5.86 | 466,670 |
The exploration work completed by Gratomic to date warrants additional expenditure and confirms the good exploration potential of the Capim Grosso project. In order to further the exploration efforts on the project, the QP has proposed an initial exploration budget over 24 months of US$ 1,650,000 (spent over two stages within 24 months) to include the following (the budget is a recommendation and excludes overheads such as director salaries, flights/transport and other corporate expenses):
- Stage 1: Infill Drilling and Trenching
- Stage 2: Feasibility Study
Further to the Company's Press Release dated April 12, 2023, Gratomic completed the following exploration work between 2021 and 2023 on the Capim Grosso Project:
1. Geological mapping
2. Trenching (63 trenches for 3,830.55 m)
3. Diamond drilling (34 drillholes for 4,784.10 m)
4. Metallurgical test work
5. Bulk density determinations
6. Exploration target (using the parameters as set out in NI43-101 Section 2.3(2) (b))
7. Mineral Resource Estimate in compliance with NI43-101
8. Ongoing trenching on Exploration Permit 872160/2016
Arno Brand, President & CEO, states, "If the initial 43-101 report on Capim Grosso was already important evidence that we are in the right direction of becoming a major international player in the graphite market, this report starts to bring numbers on the table to support this. And we continue exploring the project, so this might be just the tip of the iceberg."
"Knowing that we have only explored an initial fraction of the Capim Grosso graphite province, and already have resources enough to possibly support a future Feasibility Study, just gives us more confidence to continue on the right path and bring the total potential of this unique project under the light", says Armando Farhate, COO & Head of Graphite Marketing & Sales.
At the recent Shareholders Meeting held on July 6, 2023, shareholders approved the 2023 Incentive Stock Option Plan (the "2023 SOP") for the Company. The 2023 SOP was appended to the Management Information Circular (the "Information Circular") dated May 23, 2023 as Schedule "D", a copy of which was filed on sedar.com on June 5, 2023. All changes to the 2021 Stock Option Plan made pursuant to the 2023 SOP are set out in a black-lined version of the 2023 SOP appended as Schedule "E" to the Information Circular. The Company wishes to bring to the attention of shareholders the following amendments. The 2023 SOP requires that the Company obtain disinterested shareholder approval of any decrease in the exercise price of or extensions to any stock options granted to individuals that are insiders at the time of the proposed amendment. In addition, the 2023 SOP clarifies the fact that any option that has an expiry date that occurs within ten (10) Business Days from the end of a Blackout Period shall not be extended and shall expire if unexercised by the original expiry date.
Qualified Person
Nico Scholtz is a consulting geologist and has reviewed and approved the scientific and technical information in this news release. Mr. Scholtz is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No. 400299/07). Mr. Scholtz is the Company's "Qualified Person" as defined by NI 43-101.
About Gratomic
Gratomic is a multinational company with projects in Namibia, Brazil, and Canada. The Company is focused on becoming a leading global graphite supplier and aims to secure a strong position in the EV battery supply chain. With the continued development of its flagship Aukam project and further exploration on the Company's Capim Grosso property, Gratomic sets itself apart by seeking out unique top-quality assets around the world. True to its roots, the Company will continue to explore graphite opportunities displaying potential for development. The Company ranked third place in the top 10 preforming mining stocks on the 2022 TSX Venture 50.
Large quantities of high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the test results will provide a unique competitive advantage in its desired target markets. The Company will continue to update the public on the status of these tests and will provide results as soon as they become available.
The Company has formed a collaboration agreement with Forge Nano. With its patented ALD coating, this cooperation with Forge Nano is a key element to support Gratomic's strategies towards the value-added phases of production of graphite for anode applications, namely micronization, spheronization and coating, making Gratomic graphite a preferred choice for use in lithium-ion batteries.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or (416) 561- 4095
Subscribe at gratomic.ca/contact/ to be added to our email list.
For Marketing and Media information, please email: info@gratomic.ca
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Forward Looking Statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com)
SOURCE: Gratomic Inc.
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